EPC Blog: Late Movers – Learn to Love SEPA. There are Ten Months Left to Meet the 1 February 2014 Migration Deadline Mandated by European Union Law.

In this blog (see 'related links' below), Javier Santamaría, Chairman of the European Payments Council (
), reiterates that European Union (
) law effectively mandates migration to the Single Euro Payments Area (
) by 1 February 2014 in the euro area. Santamaría recalls that the
legislator; i.e. the European Parliament and the Council of the
representing
Member States, agreed the 1 February 2014 deadline already in December 2011. With regards to speculations entertained by some commentators that this deadline might be postponed, Santamaría clarifies: "The only party empowered to change the 1 February 2014 deadline is the
legislator; i.e. the European Parliament and the Council of the
representing
Member States. The
legislator has never indicated that it would consider such a motion. Consequently, there is only Plan A: get ready for
in the euro area within the next ten months."

Your reactions

If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.